Major Update: AML in Velocity

As of August 28, Velocity has made major changes to AML to help agents and brokers maintain compliance.

For those agents using Velocity Legacy (Modern or Classic Views), the AML Borrower Risk Assessment has been marked as no longer meeting FINTRAC requirements. When prompted to go to a FINTRAC Compliant version for your AML tools, you are taken to the Velocity 3.0 view.

No longer will you be required to create conditions for Sanctions Screening, Risk Assessment, or PEP screening in the 3.0 Version - these are now housed in a separate AML section (AML now has its own tab, similar to Mortgage Requests, Assets and Liabilities, etc.). Created risk assessments should now automatically populate in your conditions and documents.

The new Risk Assessment tool is similar to the Legacy version, but adds more detail and specificity to help clarify and address things you should be paying attention to. We continue to strongly recommend using the AML Risk Rating Interactive Scorecard in conjunction with this update.

Note - You will still have access to all previously generated assessments and you do not have to redo any risk assessments already completed in the previous version; that said, please use the new version for any assessments completed going forward.

Further technical details can be found in the Newton “Upgrades and Enhancements” email from August 27, 2026.

For those agents who continue to use Filogix, an update to Risk Assessment will be addressed with an in house tool as soon as possible. Watch for more details in the coming days.